Bryce Point Capital LLC Buys Shares of 94,497 Crescent Energy (NYSE:CRGY)

Bryce Point Capital LLC purchased a new position in Crescent Energy (NYSE:CRGY) during the 4th quarter, Holdings Channel reports. The fund purchased 94,497 shares of the company’s stock, valued at approximately $1,381,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Geode Capital Management LLC raised its stake in Crescent Energy by 13.8% during the 4th quarter. Geode Capital Management LLC now owns 3,818,765 shares of the company’s stock worth $55,806,000 after acquiring an additional 464,065 shares during the period. Alliancebernstein L.P. increased its stake in shares of Crescent Energy by 8.2% in the fourth quarter. Alliancebernstein L.P. now owns 156,078 shares of the company’s stock worth $2,280,000 after purchasing an additional 11,786 shares in the last quarter. Clearbridge Investments LLC bought a new stake in shares of Crescent Energy during the 4th quarter valued at $9,869,000. SCP Investment LP purchased a new position in shares of Crescent Energy during the 4th quarter valued at $409,000. Finally, Pictet Asset Management Holding SA boosted its holdings in Crescent Energy by 10.5% in the 4th quarter. Pictet Asset Management Holding SA now owns 24,234 shares of the company’s stock worth $354,000 after buying an additional 2,306 shares during the period. Hedge funds and other institutional investors own 52.11% of the company’s stock.

Crescent Energy Stock Down 1.7 %

Shares of Crescent Energy stock opened at $11.05 on Wednesday. Crescent Energy has a 52-week low of $9.88 and a 52-week high of $16.94. The firm’s 50 day moving average price is $13.22 and its 200-day moving average price is $13.52. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.12. The company has a market cap of $2.85 billion, a P/E ratio of 17.81 and a beta of 2.18.

Crescent Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 12th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date was Wednesday, March 12th. Crescent Energy’s payout ratio is presently -69.57%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on CRGY shares. Williams Trading set a $16.00 price objective on Crescent Energy in a research note on Wednesday, March 5th. Truist Financial boosted their target price on shares of Crescent Energy from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Wells Fargo & Company cut their target price on shares of Crescent Energy from $21.00 to $20.00 and set an “overweight” rating for the company in a research note on Monday, March 24th. JPMorgan Chase & Co. decreased their price target on shares of Crescent Energy from $18.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. Finally, Stephens restated an “overweight” rating and set a $17.00 price objective on shares of Crescent Energy in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $17.09.

Insider Activity

In related news, Director Michael Duginski purchased 4,000 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were acquired at an average price of $10.38 per share, for a total transaction of $41,520.00. Following the purchase, the director now owns 233,607 shares of the company’s stock, valued at $2,424,840.66. This trade represents a 1.74 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $9.91, for a total transaction of $29,221,844.93. The disclosure for this sale can be found here. In the last quarter, insiders acquired 24,932 shares of company stock worth $263,219. Insiders own 13.20% of the company’s stock.

Crescent Energy Profile

Crescent Energy Company acquires, develops, and produces crude oil, natural gas, and natural gas liquids (NGLs) reserves. Its portfolio of assets comprises mid-cycle unconventional and conventional assets in the Eagle Ford and Uinta Basins. It also owns and operates various midstream assets, which provide services to customers.